Using Wealthsimple Trade

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, securities and crypto trading platform that distinguishes itself from its competitors by charging no fees. 

A Toronto, Ontario based fintech business launched in Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed considerably over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets consumers trade single stocks and also ETFs without needing to pay any fees. The exception is when trading stocks that are listed in USD currency. In that case, they do charge a small currency conversion fee both when buying and selling. But, gone are the times of paying more than $7 for each trade with discount brokerages as was the norm only a few years ago.

Exactly How Much in Funds do I Need to Start With Wealthsimple Trade?

Wealthsimple is unique in that they will allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large initial deposit amounts of 1K-$5000. This makes it impossible for the common investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade has registered and non-CRA-registered accounts. One are able to choose between both RRSP and TFSA accounts during the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app offered on both IOS and also Google Play. The smartphone app makes the registration process and also the trading of stocks and ETFs easy.

Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). They have been operating for more than 7 years and now employs about 600 people. The controlling shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.

How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very simple to deposit to a new account. Just connect to a chequing or savings account with your Trade account, and add funds to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can the same way can be moved to your chequing or savings account using the same process.

What Other Features and Products Are Available?

Wealthsimple Cash – This is alternative to E-Transfers which allow anyone to quickly and easily send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your tax return online for free. It’s pitched to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination prepaid visa and savings account that lets one to get 1% cashback on all your everyday spending, as well as earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of different online courses on different topics such as saving, investing, crypto, real estate and much more. 

Every one of the listed features, along with Wealthsimple Trade can be found on the mobile app or from the site with one login.

How Can I Begin With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus to our audience you will get the cash value of a random Canadian stock worth $25 up to $4,500 Canadian when you fund your account.

What if I Still Have Questions Related to Using Wealthsimple Trade?

If this review didn’t given you the answers to all of your questions, and you’re still looking for more specific information relating to Using Wealthsimple Trade, check out the Wealthsimple website for answers to each your questions.